Wall Street to boost campaign spending for 2020 US election

With the financial crisis fading, firms renew political engagement for presidential election year

By

Lalita Clozel

Updated: August 23, 2019 7:48 am GMT

Banks plan to be more active in the 2020 elections, with a large industry group promising to boost campaign spending and political advertising after keeping a relatively low profile in the decade after the financial crisis.

The industry’s re-emergence in the political arena comes amid a friendlier tone in Washington during the Trump administration. Congress and financial regulators have sought to ease capital rules, limits on trading and other restrictions placed on banks by the Obama administration after the 2008 crisis, arguing...